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As Citi reported its results, a Saudi prince was likely playing close attention. The nation's biggest banking firm counts as one of its top stakeholders Prince Alwaleed bin Talal.
As of last year, the prince owned more than $3 billion in Citigroup shares through his company, Kingdom Holding Company. In January, he was one of eight investors to buy a total of $12.5 billion in Citigroup securities.
The Middle Eastern funds have "money is coming out of their ears because oil prices [have been] at $140 dollars a barrel," said Desmond Lachman, a critic of sovereign wealth funds and a fellow at the American Enterprise Institute, a conservative think tank. "These people have huge amounts of reserves and they want to invest them more profitably."